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Date:
10th Feb 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Binance Coin (BNB) Spikes to over $130, adding 50%

The Binance Coin (BNB) is at a new all-time high, adding 50 percent and blasting above $130. Driven by the influx of new traders and CeFi, BNB quarterly burns, and the Binance Smart Chain (BSC) evolution as a viable smart contracting platform with lower fees and innovation, BNB is on demand as price action shows. Buyers continue to capitalize on the increasing interest in digital assets, specifically the launch of products like Binance Pay. The solution enables coin holders to purchase goods or services online rather than just holding.


Details: 

Binance, the world's largest exchange by user count, continues to launch new products benefiting the crypto ecosystem. A few days after launching the Binance Pay—a service that competes with PayPal, BNB is now charting at a new all-time high, adding a whopping 50 percent on the last day alone. Binance Pay allows coin holders to pay for services or goods with any of the five initial cryptocurrencies and Euro. Meanwhile, merchants receive their pay in stablecoins. Outside of Binance Pay, the exchange has a vibrant CeFi ecosystem and lists various tokens and coins. They also have an ambitious goal of dislodging Ethereum as a home of DeFi through their scalable, interoperable Binance Smart Chain. The chain that supports smart contracting already is already the Launchpad of several projects, including Cake.


Impact on the BNB Price: 

Bullish. The Binance Coin price has nearly tripled after the last quarterly burn on Jan 19. With extra tailwinds from the exchange's family of products like Binance Pay, DeFi on BSC, and the rising crypto tide, BNB bulls are in charge.


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